Oxford Finance has raised $368m (£291.2m) for its asset-based lending strategy within a year of launch.

The strategy closed five transactions over that period, ranging in size from $25m to $160m, with an average commitment of more than $70m, the firm said.

It provides financing to both sponsor-backed and non-sponsored mid-market companies in the transportation, consumer products, equipment and industrial manufacturing sectors.

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“The successful launch of our asset-based lending strategy reflects Oxford’s continued commitment to expanding our lending capabilities and delivering flexible capital solutions to the market,” said Kevin Harbour, managing director at Oxford Finance.

“We are pleased with the strong foundation the team has established in its first year and look forward to building on this momentum.”

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Headquartered in Alexandria, Virginia, Oxford Finance is a specialist finance firm providing senior secured loans to public and private companies worldwide. Since 2002, it has originated more than $18bn in loans and provided finance to over 750 companies.

“We remain highly optimistic about the opportunity ahead,” said Nick McDearis, managing director of asset-based lending at Oxford Finance.

“We expect to continue growing the platform while maintaining the disciplined underwriting and client service standards that define Oxford Finance.”

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